Two-Tenant Storefront
For Sale
Contact for pricing
101-103 W Main St, Durham, NC 27701
Two leased storefront suites in the historic Art Deco Kress Building with multiple parking options nearby.
Property Size4,574 SF
Price / SF$256.01
Days on Market58
Property Features for 101-103 W Main St
General Information
Standard status
Active
Size
4,574 SF
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Building Details
Construction
Art Deco
Tenancy
Multi
Listing Agency:
Lee & Associates | Raleigh
(919) 730-6584
Listed By:
Brian Farmer, SIOR
(919) 730-6584
Source:
Moodyscre
Added: Jun 3
Changed: Jul 29
Last Checked: Jul 30 at 9:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates | Raleigh
Investment Insights
Based on property information with market context.
This two-tenant storefront building is located in the historic Art Deco Kress Building in downtown Durham. The property totals 4,574 SF and includes two suites: 2,721 SF and 1,853 SF. Both suites are currently leased, with the 1,853 SF suite leased to the High Dive through 12-31-30 and the 2,721 SF suite leased to Strike Martial Arts through 12/31/35.
Parking is available in the Church Street parking garage, on-street parking, and a paved lot behind the building. The property is walkable to much of downtown Durham and to DPAC, the American Tobacco Campus, and the DBAP.
Access is convenient to NC 147 (Durham Freeway), as well as Duke University and Duke University Medical Center. The tenant mix supports an owner seeking leased retail storefront space in a high-activity downtown setting.
Parking is available in the Church Street parking garage, on-street parking, and a paved lot behind the building. The property is walkable to much of downtown Durham and to DPAC, the American Tobacco Campus, and the DBAP.
Access is convenient to NC 147 (Durham Freeway), as well as Duke University and Duke University Medical Center. The tenant mix supports an owner seeking leased retail storefront space in a high-activity downtown setting.
Key Highlights
- Historic Art Deco Kress Building storefront property
- Total 4,574 SF with two suites: 2,721 SF and 1,853 SF
- 1,853 SF suite leased to High Dive through 12‑31‑30
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $82.3k | $18.00 |
| − Vacancy | −$7.0k | −$1.53 |
| EGI | $75.3k | $16.47 |
| − OpEx | −$22.6k | −$4.94 |
| NOI | $52.7k | $11.53 |
4,574 SF · lease $18.00/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$753.3K
$659.2K – $878.9K
NOI $52,734 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,390 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,979
Businesses Nearby
19k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 79%
Dining 13%
Beauty & Spa 8%
State Employees Credit Union
Shops & Services
9,259 visits/mo
0.3 miles
Jeni's Splendid Ice Creams
Dining
2,524 visits/mo
0.5 miles
Truist
Shops & Services
2,310 visits/mo
0.3 miles
Rock Paper Scissors
Beauty & Spa
1,491 visits/mo
0.3 miles
Mr. Tire
Shops & Services
1,263 visits/mo
0.3 miles
Demographics for 27701, NC
25,208
Population
13,409
Households
1.9
Avg Household Size
34
Median Age
50%
College-Educated
85%
High-School Grad
5.2 sq mi
ZIP Area
4,848
Density / Sq Mi
$66,852
Median Household Income
$47,681
Median Earnings
$1,279
Median Rent
$457,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two leased storefront suites in the historic Art Deco Kress Building with multiple parking options nearby.
Where is this storefront property located?
The property is located at 101-103 W Main St Durham, NC.
What is the asking price?
The asking price for this property is $1,171,000.
What are key features of this property?
This property features: Historic Art Deco Kress Building storefront property; Total 4,574 SF with two suites: 2,721 SF and 1,853 SF; 1,853 SF suite leased to High Dive through 12‑31‑30
